Laserfiche WebLink
<br />i <br />" ) <br /> <br />RESOLUTION No.oZ\~~1 <br />SERIES OF 1995 <br /> <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CASTLE PINES NORTH <br />METROPOLITAN DISTRICT AND THE CASTLE PINES NORTH METROPOLITAN <br />DISTRICT WATER ACTIVITY ENTERPRISE APPROVING A SHORT TERM <br />EMERGENCY LOAN FROM THE COLORADO WATER CONSERVATION BOARD. <br /> <br />WHEREAS, the Castle pines North Metropolitan District <br />("District") has established and owns. the Castle pines North <br />Metropolitan District Water Activity Enterprise ("Enterprise"), <br />.which is an enterprise for purposes of Article X, section 20 of the <br />Colorado Constitution; and <br /> <br />WHEREAS, one of the three (3) water wells providing water to <br />the District's residents recently failed; and <br /> <br />WHEREAS, the District has applied to the Colorado Water <br />Conservation Board ("CwCB") for an interim emergency loan in the <br />amount of One Hundred Thousand Five Hundred Dollars ($100,500) to <br />help pay for the rehabilitation of said water well; and <br /> <br />WHEREAS~ the District has been informed that its application <br />for an emergency loan in the amount of One Hundred Thousand Five <br />Hundred Dollars ($100,500) at five percent (5%) interest per annum <br />for a maximum period of one (I) year was approved by the CWCB at <br />its November 4, 1994 Board Meeting; and . <br /> <br />WHEREAS, ,the District anticipates that this short term <br />emergency loan will be repaid from the proceeds of an additional <br />loan from the CWCB in the amount of Three Hundred Thousand Five <br />Hundred Dollars ($300,500), also approved at the November 4, 1994 <br />meeting, or within one (I) year from receipt of the emergency <br />funds, whichever occurs first; and <br /> <br />WHEREAS, the interim emergency loan will be repaid on or <br />before December 31, 1995 and is not a multiple-fiscal year debt or <br />financial obligation within the meaning of Article X, section 20 of <br />the Colorado Constitution. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br />,THE CASTLE PINES NORTH METROPOLITAN DISTRICT AND THE CASTLE PINES <br />NORTH METROPOLITAN DISTRICT WATER ACTIVITY ENTERPRISE, THAT: <br /> <br />1. The District shall be authorized to enter into a contract <br />with CWCB for this loan debt, and to pay the indebtedness. <br /> <br />1/27/95-pss <br />C;\WPDOCS\CASTLE\CWCBLOAN.RES <br /> <br />APPENDIX B <br />